National Assembly Passes Tax Reform Law
By DON WINNER for Panama-Guide.com - With 40 votes in favor and 15 against, Panama's National Assembly approved a tax reform package this afternoon. This proposal was put forward by the Ministry of Economy and Finance, and it will now go to President Ricardo Martinelli for signature. All this week there has been heated discussion over this tax reform, with the government arguing that the new tax structure will force those with more money to pay more, while reducing the tax burden of those who make less. An increase in the ITBMS sales tax from 5% to 7% was included in this package.
Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.
